Financing — Climate & Sustainability
Pennsylvania Green Energy Loan Fund
The Pennsylvania Green Energy Loan Fund (GELF), created and managed by Reinvestment Fund with support from the Pennsylvania Department of Environmental Protection, finances energy conservation and efficiency improvements for buildings across Pennsylvania.
Eligible Projects & Borrowers
Community Benefits
GELF finances energy improvements that lower operating costs, improve comfort and reliability, and support long-term community development across Pennsylvania. To be eligible, projects must meet defined energy performance targets and demonstrate meaningful community benefits—such as strengthening essential services, supporting housing affordability, creating or retaining quality jobs, and improving neighborhood resilience.
Energy Conservation and Efficiency Improvements
GELF finances four distinct categories of energy conservation and efficiency improvements:
- Projects involving one or two energy retrofit measures or the replacement of single systems or equipment in an existing, occupied building.
- Projects involving multiple energy retrofit measures in an existing, occupied building.
- Projects involving the gut rehab of an existing building.
- Projects involving new construction of a building or an addition to a building.
To be eligible for GELF financing projects must result in a specified reduction of energy use. The percentage of energy savings, and the baseline for calculating the energy savings, varies depending on the type of project. See Part V of the GELF Program Guidelines and Application Instructions for details about the energy analysis.
GELF can also finance on-site renewable energy systems and on-site combined-heat-and-power systems when they are part of a larger building energy efficiency project.
Property Types
GELF can provide financing for the following types of properties located in Pennsylvania:
- Commercial, community-benefiting properties
- Nonprofit facilities, and
- Multifamily residential buildings
Applicants for a GELF loan may include building owners, developers or commercial tenants.
GELF’s Loan Products
GELF capital—typically priced at 3.5%–4.5%—is combined with other Reinvestment Fund capital to offer a single, blended loan for eligible projects. The borrower’s interest rate is the blended rate across all sources and will be higher than the GELF component rate.
Loans are typically suited to capital projects of more than $1,000,000 in total project costs, with the GELF portion sized to the cost of eligible energy measures. Loan terms are up to seven (7) years, with longer amortization available to align with the useful life of the energy improvements.
Loans will be secured by the assets being financed or such other collateral as may be required by Reinvestment Fund, including corporate and personal guarantees.
Applying for a GELF Loan
1. Review the key GELF documents
To determine if GELF is a good fit for your project, review the following documents:
- The GELF Program Guidelines and Application Instructions. Details important information about GELF. Part V addresses the energy analysis and Part VI lists the regulatory provisions that apply to a GELF.
- The GELF List of Energy Measures Spreadsheet. This Excel file lists the energy measures that may be eligible for financing with GELF.
2. Complete the Initial Financing Request Form
Complete and submit the GELF Initial Financing Request Form to PaGELF@reinvestment.com. A member of the Reinvestment Fund team will review your submitted Form and will follow up to confirm eligibility and program fit, request any additional information needed, and discuss next steps.
Key GELF Documents
Please click on the following links to download important GELF documents:
- Program Guidelines and Application Instructions
Detailed guidelines for GELF and the instructions for completing the GELF Initial Financing Request Form. This document also addresses the energy analysis needed to qualify for a GELF loan and the various regulatory provision that apply to GELF financing. - GELF Initial Financing Request Form
An inquiry form that should be completed and submitted to Reinvestment Fund. - List of Energy Measures Spreadsheet
A Microsoft Excel® template for listing all of the energy measures in the project and their costs.
There are two procedures manuals that address energy matters in a GELF loan:
- Procedures Manual for Quantifying Energy Savings
This document is a stand-alone version of Part 5 of the Program Guidelines and Application Instructions document. - Procedures Manual for Measurement and Verification
This document provides templates for the utility release forms that GELF borrowers will need to complete before loan closing and provide information about ENERGY STAR’s Portfolio Manager benchmarking tool that borrowers will need to use to report energy consumption.
Once a loan application has been underwritten and approved and prior to loan closing, a GELF loan recipient will need to complete six affidavits to ensure regulatory compliance:
- Procedures Manual for the Six GELF Affidavits
This document addresses the six affidavits for various regulatory provisions that a GELF borrower will need to complete before loan closing:
Select Project Profiles
- Coventry House
This is a two-page project profile on Coventry House, located in Elkins Park, PA.
Questions?
Please send any question to PaGELF@reinvestment.com.
This program and its materials are managed and prepared with support and funding of the Pennsylvania Department of Environmental Protection (DEP) and the US Department of Energy’s (DOE) State Energy Program. Any opinions, findings, conclusions, or recommendations expressed in in program materials are those of the author(s) and do not necessarily reflect the views of the DEP or DOE.